Multi-Timeframe Analysis: Nasdaq
Hourly Chart: Bearish Bat (Bearish)
Daily Chart: Filling the Gap, Triple Doji means no enough energy to go further. (Neutral-Bearish)
Weekly Chart: Supported at the lower level of the regression channel (Neutral- Bullish)
Monthly Chart: Hanging Man (Bearish)
Conclusion: After 2 bearish weeks, we had 2 bullish weeks but May ended with -1.26% performance, crossing below last month low is not a good sign..! Neutral to Bearish is the most probable scenario.
Review the last multi-timeframe analysis would help you make a better decision
May 1:
Hourly Chart: Flat Top Declining Bottom, Hypothetical range: 4.29%. Bullish:1.34, Bearish 2.95% (recent rejection from the top make downtrend more likely. ( Bearish )
Daily Chart: Long upper shadow and closing below last 5 days close make downtrend more likely. ( Bearish )
Weekly Chart: long upper shadow and penetrating below 50% of the last bullish candle. ( Bearish )
Monthly Chart: Close just below February's highest level. surprising 5.88% after 3 months of neutral to the bearish market. ( Bullish )
Futures: below the current market with increased volume above the monthly average! ( Bearish )
Conclusion: Bearish sentiment for the next week is the most probable scenario.
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.